Director, Commercial Special Servicing

The Director, Commercial Special Servicing oversees and directs the activities of the Special Servicing unit managing a portfolio of defaulted commercial real estate and business purpose SFR loans to resolution through either reinstatement and return to Primary Servicing, or liquidation.

Requirements

• Design, implement, and continuously improve processes, policies, and procedures to include loss mitigation strategies, asset dispositions, vendor management and credit decisioning for lender consent requests.
• Hire, train and develop staff responsible for managing defaulted commercial real estate secured loans.
• Supervise a team of associates providing administrative support to external special servicers.
• Establish appropriate key performance indicators to measure individual and team performance.
• Develop and maintain appropriate reports to monitor defaulted loans throughout the special servicing period.
• Manage relationships with third-party defaulted asset services providers, including attorney, appraisers, brokers, property management, environmental consultants, contracted asset managers, etc.
• Materially participate in all portfolio asset management credit committee activities.
• Prepare and present special servicing unit related information for rating agencies, auditors, senior management and investors.
• Comply with all Company requirements for training, compliance, audits and reporting.
• Anticipate/identify issues that could impact PHH/client operations and develop solutions.
• Monitor performance of subservicers and asset management contractors.
• Complete other activities and duties as may be assigned.

Benefits

• Medical, dental and vision
• Up to 3% match on 401(k) contributions
• Generous paid time off
• Company-paid life, accident and disability coverage
• Programs for mental, physical and financial wellness